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<br />111 mantle prier to its due dare the annual mortgage insurance premium in alder to provide such holder
<br />with funds to pay sash premium to the Secretary vt" Housing and (.'than f)rvelopment pursuant to the
<br />!vatianal flawsing Act, as amende<!, and applicable KegaEat[ans thereunder; ar
<br />(ll) ?f and so tang as said Hate of even date artd this fnstaument are held by the Secretary of housing and
<br />t7rban Deselopment; a monthly charge fin lieu uj'a mortgage i.*asraance Irremiuumi which. shall be in an
<br />amount equal to one-twelfth flil2) of one-half (11Z) per centwn of the average autstandiatg balance
<br />due on the note computed without takhtg into account delinquencies or prepayments;
<br />(b) A sum equal to the Bound rents, if any, next due, plus the premiums that will next became due and payable on
<br />policies of fire and other hazard insurance covering the mortgaged property, plus takes and assessments next due
<br />on the mortgaged property /all as rstirnared hr the hltzrtgdtgerj Less all sums already paid theretor divided by the
<br />number of months to elapse before one mantlt prier to the date when such ground rants, premiums, taxes and
<br />assessments will bectxne delinquent, such sums to he held 6y :Mortgagee in trust to pay said ground rents, pre-
<br />mitmts, taxes and spectia} assessments; and
<br />(a:) x111 payments mentioned in the two preceding subsecuans of this paragraph and all payments to are made under
<br />the note secured hereby shall be added ta~ther, and the aggregate amnurt thereof shall be paid by the Mortgagor
<br />each month in a single payment to be applied by the Mortgagee to the following items in the order set fortkt:
<br />([) premium cttarges under the coatzact c5i insurance write tttc Secretan• of Ifaus[ng and L`rban Ckvelopment,
<br />ar ntonihly charge (in Irru <~f rnrrr,4age insurance premiurni, ss the case may br,
<br />(li} ground rents, faxes. assessments, fare and ufher hazard insurance premiums:
<br />(Ill) interest an the nafe secumd hereby; and
<br />f[Vj amortization of the principal of sad note-
<br />Any deficiency tr, alts amount <~t" any such :aggregate maatehty natment shalt, unless made goad by the Mort-
<br />gager prier za Lye due date of the next such psyntent, cer~,stttute an event at` default under thismartgage. The
<br />Mortgagee Wray tallest a "late char" Hat ro exceed toa:r teats lay) far each ddlsr f5 f 1 of ¢actt payment more
<br />than hfteen f_IS1 days in arrears to cover the extra exp^n~ mvolveti m handling delinquent payments.
<br />ti. That if the tnra3 a€ the payments made krv the \lart_~raKOr under r'r,j of paragraph '~ preceding -hall exceed
<br />the amount ofpaymen~ actually made by the 1lnrtg<tgee for dmund rent., taxes and assessments or insurance pre-
<br />mium-, ss the cue may be, such excess, ,f stet lcxap. ;s current, at the option of the Marrgagor, shall be credited by
<br />also 1lortgttget= n sub=equant psy~:at...:,:.:s, t.r~ mode t~s tha• ,Sat _.u... *efundt±d to tht :tltrrtshgor, lf, ho5vever, fhe.
<br />;+ranthiy pa}'menL~ made hr the 4iangagot unds.r a •%.+ of paragraphV' preceding shall not he sufficient to [ray ground
<br />rent, tastes and e.-~aswmenta ar insurance premiums. as the cktix mac be, rshen the ;game shall hecante due and pay-
<br />a#aJt+, then the lioragtagor shall pay to the 1longtu>.ee• en.y amount necr.~sarv to make up the deficienr:y, nn or before
<br />late date when payment of =ugh ~mund rent- . taxc~. a~-ac~ment- or ttr.~urancta premium= ..bait t:e due. ll' of any
<br />intro the ,4lortgagor shall tender tar the liartga,~ee, in accortlane+~ .elite thu provi ion, oC the note scented heec6y,
<br />felt payment of the entire indebtrdne-.~ re~prc~enterl thrrFhv, the \lortgat,~ee +hslt, in computing the amount of such
<br />inrlebtc~dttess, credit to the arctxar'rt of the 19ortgagas till pavmtenss made under dye provi fans of (uJ of paragraph 3
<br />hereof tshittltthe lfrirtgager ha-; not become ahtig.ucd to pal- tt, the ~ecrctan,• of dousing' end Groan 1)evelapment
<br />Kad env balana;c rNmainint; in the fund. accumulred under the ptoci~ians of Ihi of paragraph 3 hereof, if thrxe
<br />shall axe a tlefau'It antler any of the procti~ion:~ c,t ttri~ martl;a}!c re.uiting in a public ::alt; of the. prcmtaes e~avt'rrod
<br />hereby. or if tEre'alortgagezr ar:quires the pmtn:rty atht~rwi=e aftn:r default, late 3lartgagce shad apply, at the time of
<br />that t~ammencttment. of -etch praceedin;*~, ar zu tht< time alts property i.: nthenviso acquired, alto balance then rt+muin-
<br />in~ in tJre i'und- accumulated under i E•; ref paragrapi ,' peeceding, as a a-redii against the amauni of principal then
<br />r€•anaining unpaid under ,aid ncxe..and ~hsll [xopeely .rdjatst any payment- whi«h sh<a1! have been made under i r j
<br />of paras?tvph ~'.
<br />~. That the <iartgagur wail pax ip~ound rents, tale+. asses>nrens, ~,vatrr rotes, and other guvrrnmtntal or municipal
<br />charges. tents, ar imf*ositians, fnr w•trich prortsion has ncri been allude herehttxfare- and in default thrntof the Rtartgagee ratty
<br />pay the same; :€nd that the Mort~gar wiA prampely drhver lane officio! receipts there€or to the 'Wlartgagee.
<br />5. The !t4arip;:>gar will part' a4l lases ~a•ha:h mFZy F+z levrcd upetn the 'Nartgagee`s dnterrst in said real estate and imprave-
<br />ments, and which may tar kvir<i utwn tht. dnFart _ tgt: or the debt secured hereby that only ro the extent that 'stack is naS ptahibit-
<br />ed by Haw and eanly to the extent that such will nc,t Hooke able loan usadriuusr, but cseiuding any income tax. State or .=ederal.
<br />impcs•;ed isn ~fartgagee. and will file. the official re+ cipt shoµang such payment with the Lfongagre. Upon violation of Fhis urder-
<br />iaktng. ar i€ the 1`4aetgagt5r is prohibited by any law now ar heecefter misting from peying late whole ar any portion of the •,dbre-
<br />saidtaxes, or urn the rendering of any court decree probsbiting tkae payment by the Mortgagor ar any such taxes, ar if 5uuh law
<br />ar d;cret prn ides that ixny arrresunf sa paid by the hfortgagar shat tae credif~d on Cho mortgage debt. the Mortgagee shall have
<br />the rattht to give ninety day.' wrifsen notice to the awrret o'f the nrartgugtnd premises, "squiring [he payment of the mortgage
<br />d;°tat. If such native he given, the raid debt stra;l txeamr due, paycbie and collectible at the expiration of said aitrety days.
<br />(+. 1"hai should ate fai3 to pay env sum or keep say cavenaat provided for in Fhis !b3orzgage„ then the Mortgagee, at its op-
<br />tion. may pay tar perform: the sarot. and all expenditures sa made shalE be added to the principal sum awing on the: above netts.
<br />chair l+e seaurrd hereby- and shrli hear tMereSt at the rate set forth in the said note, until paid.
<br />'' That he Hereby <asssgns- transfcrv and sets ever to tare btartQ-eKee. to be applied toward the payment of the Hate and al(
<br />+ums vecured tterc`k?y in u'ax t>f a default in the petit rrrtance of .any of the terms and conditions a€ this Marigage of ti;e .aid
<br />note, aIb the rctzt•, revenues arrd inct,dnc to be deri+ed frnm the mr+rtgaged premises duringsuch time as the mortgage indebted-
<br />ness shelf rranatn univtaid. and tare faturtgagei; s#ta11 ha.e power to appaisu any agent ar agents it may desire far the purpose aif
<br />repairing ~~~d r~er^i.ts and of ranting the same and ctrllec ling the yenta, revenues and tnsr+me, and it may gay r5ut of said in-
<br />earties all etp. n.c. „i rc pairitag said prrutises and. aeeessary ccrmmtssions and expenses incurred rn renting: and. m:an;tging the
<br />same and vF ~~•+te:urxg rentals therefrom, the inxlance renraiaing, if any, to he appiierf toward the discharge of said urortgagr:
<br />inclebtedrress.
<br />1hxt `:c u, 'keep the im; rovemc ,ts ntau• existing tr herzaftzr steeled on the mnrtgattac property, insured as may be
<br />rcr,~ui,-r$ iR,io tyre u, is~ c r'~ w n1g.a~cc- gx~.x~. i Fre .:^d nti,e ~.:.__. d,, y~~atHeb arod tantmgeacie~ in six~h
<br />2tn oeretti :a,>1 `~: ~ +uch ~r x1, _„ rya. he reyuircd ~wy thz .-.-Mart~satee a:nd will psty promptly, when due, any premiums eat such
<br />inxur.,r.~~ nrd,',t d ,n tio; ~ 's^,r, r „l - f <n :ra, Hat heat made hereintsefare. A31 insurance shall be carried in ce.mpanics cet+-
<br />prc,ed h•, tsar ~t ns..r~~~, _ r ~.:hc t*c ~,~ , ar;,2 renrcvals thereof steal{ he held by the A~4cxrt.gagee anti have attached thereto t~5p
<br />nµyaeir clauses n ?a.~s at .:ad m ~, ., o~~r, table to the ~lartgngee.. In event of lows 43artg~;or will giv!r intrnediate netict fip
<br />-;aai': ~a rtes 'vl.., tlt.u,r-, .v n. -r+-', -,=rs a .^~t?,:,1 ,r (_ ss iF Hat madeprotnptly hy'SAortgagtar,. and. cacti itt!;atrance company cair-
<br />cz;: tai . :rt«t , : ~-t:.r+ri: r~ ,. d : -c. re-: t„ rr •ke payrnen+: ftzr such lass directly to the iortgagee ,n5tead of to the Mortg.rlCOr
<br />. _ - i.» annt;y. ~nav ?nc in ,•un.a: rsr•~cede. ^r any piUt.iheree3f. malt fie applied by att. ~4ortgat;ce at,ts i5ptlr>n tither
<br />td>4r» ..da -,iua ,.f of i:xi.h.cSnr~, a ;.hv , -,, _c rarC<+tlte resacsriutisan or regrut 4~f r3te property dama.grd. In e°vent.kf` #,.rres:fc~-
<br />':err o ,kr_ ~,, ., r,.k_ „r o . .,.. ..- , : dre t~.- , h. r: .,rt;.•x;rXd prsrtrrrzy *~ ee un~ut;hmr".rfll sf tfrc indc t,rau+ne<, .+.c eared ;trrrhr.
<br />„~iH o S..C ~.-rr_~b; r ,~;ir;vr , i~+..ic.„ ,r, in.,~rsnot;,a.i~tirvtfserurCt7rceshsl[lr.asSSi.,tPaNpractisa s:rurpzanime.
<br />f , ., , ..... ..-::r ~ ..., ,.- . , mCnE :',; their. tc cis-»c tiMaetL and all itsaa~ t,. i.?"C,,Si.te dare vncfur .
<br />'%~L~,a- {~1_ ,_ ,I. ..-,tc „-i.~, ~_Y __:. ^t.•tr.. Fr~'. t':-~_ .. d::ICS.`5t+17£52il~i eTefiCf.Cro .il.:5 td t(i}T ,i Y:Sw:
<br />-it:r c„K ,aw' ..., . . r..r. n _.. ~ . aye= r- - -. ~.>_!, d,t-.~: r+c .and reccdpt for 'h:>r ,.r«.ee sue .:g~{zl}
<br />a.:tzr- +~',~ » , ,_.~ ,. .., _ . t _.-. .. ,. -, _,~ ~rr~~ •~adrrr.r _~ .h , . .. rid Fias , Nr;~,. ,,~, :aenaand~sux
<br />. ,, .?„c rdr _ -,- ~ i, , ,x ,i ~, ~,, 3-fat a_:~ r.~t,r 5, tts €er:xtit,atc
<br />_,i ~ . . , . _ able -~s:
<br />ra. zr t~ rf+e i r riot
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